We recently released our list of the 50 richest people on earth based on data from Wealth-X, which conducts research on the super-wealthy. Many of the billionaires on the list came from humble beginnings and built huge empires from next to nothing.
Others were born into money.
To find the wealthiest people in the world, Wealth-X looked at its database of dossiers on more than 110,000 ultra-high-net-worth people and used a proprietary valuation model that takes into account each person's assets, then adjusts estimated net worth to account for currency-exchange rates, local taxes, savings rates, investment performance, and other factors. We narrowed that list down to just the billionaires who inherited at least part of their wealth.
Some built upon their inherited fortune to create companies that far exceed those of their parents or spouses — like the Koch Brothers or L'Oreal's Liliane Bettencourt — while others, such as the Mars siblings, haven't actively expanded the family business.
Here are the 16 richest heirs and heiresses in the world.
16. Laurene Powell Jobs
Net worth:$14.4 billion
The widow of Apple cofounder Steve Jobs, Laurene Powell Jobs inherited his wealth and assets, which included 5.5 million shares of Apple stock and a 7.3% stake in The Walt Disney Co., upon his death. Jobs' stake in Disney — which has nearly tripled in value since her husband's death in 2011 and comprises more than $12 billion of her net worth — makes her the company's largest individual shareholder.
Though she's best recognized through her iconic husband, Jobs has had a career of her own. She worked on Wall Street for Merrill Lynch and Goldman Sachs before earning her MBA at Stanford in 1991, after which she married her late husband and started organic-foods company Terravera. But she's been primarily preoccupied with philanthropic ventures, with a particular focus on education. In 1997, she founded College Track, an after-school program that helps low-income students prepare for and enroll in college, and in September she committed $50 million to a new project called XQ: The Super School Project, which aims to revamp the high-school curriculum and experience.
Last October, Jobs spoke out against "Steve Jobs," Aaron Sorkin's movie about her late husband that portrays him in a harsh light, calling it "fiction." Jobs had been against the project from the get-go, reportedly calling Leonardo DiCaprio and Christian Bale to ask them to decline roles in the film.
15. Azim Premji
Net worth:$16.5 billion
In 1966, 21-year-old Azim Premji dropped out of Stanford in the wake of his father's death to take the helm of his father's company Western India Vegetable Products — later renamed Wipro. It was under Premji's leadership that the company diversified into toiletries and bath products and, eventually, IT, and the company grew exponentially. Now India's third-largest IT giant, Wipro generated revenues of $7.6 billion in its most recent fiscal year.
Just days into the new year, Premji named Abidali Neemuchwala, a Dallas-based consultancy executive, the new CEO of Wipro, citing him as the best leader to take Wipro into "its next phase of growth." Neemuchwala had been brought on to Wipro as chief operating officer last April after years of working for rival Tata Consultancy Services.
Premji is known for his generosity. He signed the Giving Pledge, committing to donate at least half of his wealth to charity, and in 2015 was named "the most generous Indian" on the Hurun India Philanthropy list for the third year in a row.
14. Dieter Schwarz
Net worth:$20.9 billion
Dieter Schwarz joined his father's food-wholesaling business in 1973 and opened the company's first discount supermarket shortly thereafter. He took over as CEO when his father died in 1977 and rapidly expanded the business outside Germany, rebranding the company as Schwarz Gruppe.
The parent company umbrellas Lidl, a successful grocery-store chain and the second largest in Germany behind Aldi, and Kaufland, a chain of "hypermarket" stores similar to Walmart. Lidl has nearly 10,000 stores across 26 European countries and is set to break ground on US soil in 2018. Schwarz Gruppe now pulls in $85 billion in annual sales.
The German billionaire lives a quiet life out of the spotlight with his wife and two kids in their hometown of Heilbronn. He's reportedly a generous donor to educational causes.
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